Power sector dues to coal PSUs surge 42% at end-FY24
The cumulative outstandings of the power sector to Coal India (CIL) and Singareni Collieries Company (SCCL), which account for over 90 per cent of coal production, rose 42 per cent y-o-y to ₹24,392 crore at the end of FY24.
The dues payable by thermal power plants (TPPs) to the mining behemoth CIL rose 13 per cent y-o-y to ₹15,715 crore in March, while those of SCCL more than doubled on an annual basis last month to ₹8,677 crore.
RISING CONSUMPTION
However, on a monthly basis, the total outstanding dues of PSU miners fell 14 per cent from the record ₹28,438.1 crore in February. The dues of CIL and SCCL also fell 13 per cent and 16 per cent mo-m, respectively.
In Q4 of FY24, the dues of coal miners were on the higher side on account of
The dues payable by TPPs to the mining behemoth CIL rose 13% y-o-y to ₹15,715 crore in March
rising coal o take with India’s power demand has been growing at around 7 per cent per annum. For instance, the outstanding dues of TPPs rose 33 per cent to ₹27,228.18 crore in January.
They were even higher in February, at ₹28,438.10 crore, a record.
TPPs’ domestic coal use rose 9 per cent y-o-y to almost 74 million tonnes (mt) in March. It had risen in January and February as well, up 7 per cent and 13 per cent on an annual basis at 71.3 mt and 68.4 mt, respectively.
Coal-fired power plants, with an installed capacity of nearly 211 gigawatts (GW), consumed 849.7 million tonnes (mt) of the fuel in FY24, higher by 9.41 per cent y-o-y from 776.6 mt in FY23.
Coal production and dispatch also rose in line with rising consumption. Coal production in Q4 of FY24 rose 7.4 per cent yo-y to 262.11 mt, while dispatch grew 7 per cent y-o-y to 220.47 mt.
POWER DEMAND
Government and analysts expect power demand to grow at 6-7 per cent on the back of rising consumption from industries and households.
The peak power demand in FY23 hit 240 GW in September 2 and projections are that it will hit 260 GW this summer.
Keeping thermal power plants well stocked is critical as the India Meteorological Department (IMD) expects extreme heat conditions till June with Central and Western parts to be worst afifected.
As of April 19, domestic coal-based power plants had a stock of 46.55 mt against a daily requirement of around 2.7 mt.